Royal Bank Of Canada Issues Positive Forecast for Headwater Exploration (TSE:HWX) Stock Price

Headwater Exploration (TSE:HWX) had its price objective lifted by equities research analysts at Royal Bank Of Canada from C$14.00 to C$15.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 14.77% from the stock’s current price.

Separately, Desjardins set a C$14.50 price target on Headwater Exploration and gave the company a “hold” rating in a report on Friday, July 17th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$12.36.

Headwater Exploration Trading Down 3.0%

Headwater Exploration stock traded down C$0.40 during midday trading on Monday, reaching C$13.07. The stock had a trading volume of 395,503 shares, compared to its average volume of 814,439. The stock’s 50-day simple moving average is C$12.60 and its 200 day simple moving average is C$12.17. Headwater Exploration has a twelve month low of C$6.58 and a twelve month high of C$13.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.07 and a current ratio of 1.07. The stock has a market capitalization of C$3.11 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 0.83 and a beta of 0.61.

Headwater Exploration (TSE:HWX) last announced its quarterly earnings results on Thursday, July 23rd. The company reported C$0.36 earnings per share for the quarter. Headwater Exploration had a net margin of 27.85% and a return on equity of 24.24%. The firm had revenue of C$227.67 million for the quarter. Analysts expect that Headwater Exploration will post 0.6296296 EPS for the current year.

Insider Buying and Selling at Headwater Exploration

In related news, Director Kevin Olson sold 100,000 shares of Headwater Exploration stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of C$13.32, for a total value of C$1,332,000.00. Following the completion of the transaction, the director directly owned 2,820,179 shares in the company, valued at approximately C$37,564,784.28. This trade represents a 3.42% decrease in their ownership of the stock. Also, Director Karen Nielsen acquired 6,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of C$12.90 per share, for a total transaction of C$77,400.00. Following the purchase, the director directly owned 6,000 shares of the company’s stock, valued at C$77,400. This represents a ∞ increase in their ownership of the stock. 5.08% of the stock is owned by company insiders.

About Headwater Exploration

Headwater Exploration Inc is an oil and gas exploration and development company. It is engaged in the exploration, development, and production of petroleum and natural gas onshore in McCully Field, New Brunswick and Marten Hills, Alberta. The firm generates substantial revenue from the sale of commodities which include crude oil, natural gas and natural gas liquids.